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Enterprising Investor

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Enterprising Investor

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Re: Enterprising Investor post# 355

Wednesday, 03/04/2020 10:00:51 PM

Wednesday, March 04, 2020 10:00:51 PM

Post# of 467
AIC 2019 Financial Results (12/31/19)

Underwriting Loss was $2,139,455.

Investment Income was $341,289.

Net Loss was $1,819,545.

AIC had $14.0 million in assets at 12/31/19. Non-Admitted assets totaled $5.8 million, making Net Admitted Assets $8.2 million. Surplus Notes declined by $2 million as a result of AIC making a principal payment to AICI on 7/09/19.

Surplus was $4 million.

AIC also had more than $84 million of unused operating loss carryforwards at 9/30/19. The exact number is unknown due to a typo.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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